The Azerbaijani-Russian joint pharmaceutical plant will come to full production capacity in 2020, Azerbaijan’s Economy Minister Shahin Mustafayev said. He made the remarks during the plant’s groundbreaking ceremony in the Pirallahi Industrial Park. This is Azerbaijan’s first pharmaceutical plant, said the minister, adding that a 10% share in the joint venture would be owned by…
According to Bulgarian Ministry of Agriculture, as of October 20, nearly 371thousand ha of corn were threshed, which was 88% of the intended area (423 thousand ha). 1973.1 KMT were harvested with the average yield of 5.32 MT/ha. Harvesting is 16.1% faster than in 2015. As of the reporting date, average corn productivity was 0.2%…
Currency reserves of the Central Bank of Azerbaijan (CBA) decreased by $127.2 million MoM (3.08%) to $4.005 billion in October, according to the CBA statistical data. The Central Bank’s currency reserves have decreased by 1.011 billion manats, or by 20.2% since early 2016. The reduction in CBA’s currency reserves began in June 2014. The reduction…
The International Monetary Fund (IMF) has revised upwards expectations regarding the ratio between Ukraine’s gross foreign debt and GDP in 2016-2017. According to the IMF, the indicator will grow to 141.3% of GDP from 136.4% of GDP (earlier it was excepted to be 152.3% of GDP) and in 2017 it will fall to 136.3% of…
The Southern Gas Corridor (SGC) project is running in very professional manner, European Commission Vice President for Energy Union Maros Sefcovic reported. Sefcovic said that the competition was very tough, but he was confident that Caspian gas would reach Europe before 2020 via the Southern Gas Corridor. “An enormous investment was made. The project is…
Azerbaijan’s state oil company SOCAR made a decision to extend the term of a letter of guarantee on the tender to buy a 66-percent stake in the Greek national gas transmission system operator DESFA for another month, Anar Mammadov, SOCAR Energy Greece executive director, reported. “We are trying to find a mutually acceptable solution”, he…
The interconnecting gas corridor between Macedonia and Greece will use the Trans-Adriatic Pipeline (TAP) for supply of natural gas from Azerbaijan, CEO of Macedonian Energy Resources Skopje company Krste Miladinov reported. TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan’s Shah Deniz gas and condensate field to the EU countries.…